Eurjpytrade
EURJPY Drop expectationsSorry for the messy chart BUT:
The blue bars representing strong Weekly Resisitance and support zone's
As seen on the daily timeframe we can see that prices are currently being rejected ( see orange trendline which is drawn on the 4H)
The Fib tells us that prices are currently within the Golden zone (0.618 and 0.5)
Via the 1H Timeframe i personally think prices will drop again and EURJPY will make long runs again like the rest of this week.
We can see on the 1H hat prices are consolidating right now . but i think we can drop back to the 126.150 Support area again and probarly even further down to 125.900 support before going upwards again.
See picture below :
Its a messy chart but basicly pretty simple and logic price action/movement.
Have a great weekend!
EURJPY - big rangetwo scenarios:
wait for a sideways exit)
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P.S. I personally will open entry if the price will show it according to my strategy.
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EURJPY 1MHello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied
EURJPY ShortWe find the EURJPY graph as we can see it has broken in a very strong way the 125.37$ resistance and most probably it ends up reaching the 125.11$ resistance. From there we will wait for the next candles to analyze the different patterns, but what happens possibly is a correction, so my recommendation is to sell until 125.11$ and buy around that value always with a nearby SL since this second operation is a trade with some more risk.
EUR/JPY could FALL!Hey tradomaniacs,
EUR/JPY has been very tricky recently as EURO-strenght wasn`t really able to help EUR/JPY to rise.
JPY was pretty chaotic due to mixed fundamental circumstances, but considering that JPY is actually a save haven we can expect EUR/JPY to drop in a risk-off-scenario in the stockmarket.
The problem was that correlations have made less sense since CHF and JPY were rising with stocks as a hedge.
We might see that correlations finally make sense again, which means that EURO would suffer due to DXY-Strenght.
However, technically we have seen three fakeouts above the range, indicating either stop-loss-fishing or fake-moves in order to attract more buyers to spend the liquidity big players need to get rid of your long-positions.
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Peace and good trades
Irasor
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PS: This week I only share my analysis as market-conditions are still weak due to loq volume and liquidity! Will be back with signals next week!